Loading Tutorstips...
✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
Advertisement
Advertisement
Advertisement
Advertisement
Question No 03 Chapter 7 – UNIMAX Class 12 Part 2 – 2021
A firm has a current ratio of 3:1. Its net working capital is ₹ 2,00,000. You are required to determine 1. Current Asset 2. Current Liabilities 3. Liquid assets assuming inventory of ₹ 2,20,000.
| Current Ratio = | = | Current Assets | = | 3 |
| Current Liabilities | 1 |
| Let current assets | = 3 x |
| Current liabilities | = 1 x |
| Working capital | Current assets – current liabilities |
| 2,00,000 | = 3x – 1x |
| 2,00,000 | = 2x |
| = | 2,00,000 | = | ₹ 1,00,000 |
| x | 2 |
| Current liabilities | = x = ₹ 1,00,000 |
| Current assets | = 3x = 3 x 1,00,000 = ₹ 3,00,000 |
| Quick assets | = Current assets – stock |
| = 3,00,000 – 2,20,000 | |
| = 80,000 Ans. |
Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
This guide covers "Question No 03 Chapter 7 – UNIMAX Class 12 Part 2 – 2021", focusing on key definitions, step-by-step concepts, applications, and revision guidelines relevant to Unimax Accountancy Class 12 Part 2 - 2023.
It is primarily curated for Class 11 and Class 12 high school commerce, accounting, and economics students, as well as aspirants preparing for board exams or CA Foundation.
You can take our custom-built interactive practice quiz directly on this page to test your understanding of "Question No 03 Chapter 7 – UNIMAX Class 12 Part 2 – 2021" instantly.
